The files contain the replication codes for the RAPS paper "Estimating Probability Weighting Functions through Option Pricing Bounds" by Tzu-Ying Chen, Yo-Lan Lin, and Larry Y. Tzeng.

To generate Figures 1 to 7 and Tables 1 to 4, use the code files in the "TTM = 29" folder. For Table 5, use the code files in the folders "TTM = 15" and "TTM = 57." In each folder, start by running all SAS code files, and then proceed to run MATLAB code files. 

For the MATLAB code files, follow these steps: begin by using code files that start with "Main_" (e.g., use Main_OP, Main_DIST, Main_PWF, Main_PWF_AIO, Main_PWF_PL in order). Then, use files that start with "Final_" (e.g., Final_FIG, Final_TAB). These steps will guide you to obtain the figures and tables as described in the paper.
